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The report "Global Biofertilizers Market, By Product (Nitrogen Fixing, Phosphate Solubilizing, Potash Mobilizing, and Others (Zinc Solubilizes and Silicate Solubilizes)), By Application (Seed Treatment, Soil Treatment, and Others), and Region - Global Forecast to 2029" Global biofertilizers market is projected to grow from US$ 2.7 billion in 2020 to US$ 7.8 billion by 2029. Increasing utilization of biofertilizers for sustainable farming method across the drives the global biofertilizers market. Further, rising demand for organic food along with rising trend of organic farming are boosting the global biofertilizers market.
Key Highlights:
- In April 18, 2019, Kiwa Bio-Tech announced strategic agreement with Yu Tian Weather Technology Co., Ltd. This agreement will focus on resource sharing and cooperation in market development, product upgrades and service enhancements based on the advantages of technology, products and services of the two companies.
- On March 2015, Insecticides (India) Ltd launched “Mycoraja” biofertilizers. It is Mycorrhiza fungus-based fertilizer which helps to enhanced crop yield.
Key Market Insights from the report:
The global biofertilizers market accounted for US$ 2.7 billion in 2020 and is projected to register a moderate CAGR of 12.4 % over the forecast period. The market report has been segmented on the basis of service and region.
- By product, the nitrogen fixing is dominated in the global biofertilizers market, owing to it improve nitrogen yield in the soil through inhabiting microbial and organic growth of the soil.
- By application, the global biofertilizers market is segmented into seed treatment, soil treatment, and others.
- By region, North America biofertilizers market is expected to dominate in terms of revenue in the global biofertilizers market over the forecast period. This can be attributed to rising demand for biofertilizers and organic products in countries of the region. Europe biofertilizers market is expected to second-highest share in terms of revenue in the global biofertilizers market over the forecast period.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Biofertilizers Market”, By Product (Nitrogen Fixing, Phosphate Solubilizing, Potash Mobilizing, and Others (Zinc Solubilizes and Silicate Solubilizes)), By Application (Seed Treatment, Soil Treatment, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa)- forecast till 2029
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The Biofertilizers Global Market Report 2023, provides comprehensive information on the biofertilizers market across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The biofertilizers market size is expected to grow to $3. Africa Biofertilizers Market 27. Key Mergers And Acquisitions In The Biofertilizers Market 29. Appendix Learn About Us: The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research.
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Based on form, the global biofertilizers market is segmented into liquid and carrier-based. To project the size of the biofertilizers market, in terms of value and volume, with respect to key types such as nitrogen-fixing biofertilizers, phosphate-solubilizing biofertilizers, potash-mobilizing biofertilizers, and others. To understand the regional market structure of the Biofertilizers market, the global biofertilizers market is segmented into five regions, namely – Asia-Pacific, North America, Europe, Middle East & Africa, and South America and forecast the market size, in terms of value and volume. AttributeDetailsBase Year2022Historical Data2018 – 2021Estimated Year2023Forecast Period2024 – 2028Quantitative UnitsRevenue in USD Million, Volume in Units, and CAGR for 2018-2022 and 2023E-2028F Report CoverageRevenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends Segments Covered· Type· Form· Crop Type· Application· Microbe TypeRegional scopeNorth America; Europe; Asia Pacific; South America; Middle East & AfricaCountry scopeUnited States, Mexico, Canada, China, India, Japan, South Korea, Australia; Germany, France, United Kingdom, Spain, Italy, South Africa, UAE, Saudi Arabia, Brazil, Argentina, ColombiaKey companies profiledNovozymes A/S, CBF China Bio-Fertilizer AG, AgriLife, Mapleton Agri Biotech Private Ltd, Biomax, Rizobacter Argentina S. You may also read: Global Harvesting Equipment MarketYou may also read: Global Automotive Loan MarketYou may also read: Global Loan Market
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The biofertilizer market has seen significant growth in recent years, driven by increased demand for sustainable and organic farming practices. According to a report by MarketsandMarkets, the global biofertilizers market is expected to grow at a compound annual growth rate (CAGR) of 11. The Asia-Pacific region is expected to be the fastest-growing market, due to the increasing adoption of organic farming practices in countries such as India and China. Another trend in the market is the growing use of biofertilizers in combination with other agricultural inputs, such as biopesticides and biostimulants. This approach, known as integrated pest management (IPM), is becoming increasingly popular as farmers seek to reduce their use of synthetic chemicals and adopt more sustainable farming practices.
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